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Suppose you are an American student and you are about to obtain your MBA and start looking for a job. An economist would say that you are about to enter the job market. Compare this market with the tin market that is described in the text. Is the job market for MBAs also an example of an ideal market? Is price a sufficient statistic for this market? Discuss the latter question from the point of view of both employers and those seeking employment.
Why is an inelastic demand curve "insensitive"? Provide an example of a good or service that fits the description.
Studying the cultural differences between countries can help a company be more successful doing business internationally. What are the cultural dimensions that vary by country? What is cultural intelligence?
Robert was running low on cash and could not buy his Marketing textbook by the first day of class if the bookstore did not accept his credit card. Luckily, the bookstore accepted his VISA card, so the bookstore created __________ utility for Robert.
Explain the likely effects of a U.S. recession on the demand for Canadian exports. What would be the effect on Canadian aggregate demand? Suppose the Bank of Canada viewed its monetary policy as being appropriate (for keeping output close to potentia..
Draw an example of a monopoly with a linear demand curve and a constant marginal cost curve. Show the profit-maximizing price and output, p* and Q*, and identify the areas of consumer surplus, producer surplus, and deadweight loss. Also show the quan..
What kinds of economic problems did dictators experience in different settings during the last 40 years? How did political problems compound their difficulties
Firm A has overhead of $1,000 a year and can produce 1,000 units at a cost of $1 per unit and units beyond that at a cost of $3 per unit. Firm B has no overhead and can produce any number of units at a cost of $2 per unit. Firm A has 3,000 customers,..
Many cities have experienced a substantial decrease in the amount of garbage being collected after they changed from levying a tax on each household to pay for the pickup to charging a fee for each bag or can picked up. Would this have been the resul..
Suppose that the investment demand curve in a certain economy is such that investment declines by $120 billion for every 1 percentage point increase in the real interest rate. Also, suppose that the investment demand curve shifts rightward by $150 bi..
In about 500 words, From a geographical standpoint, why is space, as in usable area on earth, so integral to the survival of Capitalism as an economic system?
Until a few years ago, U.S. cars exported to Japan had the driver controls on the left side (as in the United States). The Japanese (like the British), however, drive on the left side of the road, so Japanese cars sold in Japan have the driver contro..
The required return on this stock is 12 percent, and the stock currently sells for $76 per share. What is the projected dividend for the coming year?
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